6 Reasons you should order an appraisal from Astute Appraisals, Inc.
Thousands of people in Maryland buy, sell or refinance their home each month. Most of these transactions consist of a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are very high, even though there are a growing number of automated home valuation systems that might seem more cost-effective than an appraisal. You might believe that getting a mortgage is the only reason you should get an appraisal, but there are other situations when the services of a certified, independent real estate professional might be helpful.
Contest your tax assessment in Howard County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your real estate, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. At Astute Appraisals, Inc., we're qualified to assist you in appealing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the property, most lenders ask homeowners to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
Astute Appraisals, Inc. will provide you with a statement regarding the value of your home, and the expense of the home valuation can usually be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the hard decision of who maintains the house, and it can be a very horrible experience for both parties. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from Astute Appraisals, Inc., regardless of the situation.
If the parties need to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Accurate and fair estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these matters, unlike many wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Howard County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, along with information about any current sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — at an accurate price
A professional appraisal can help you make a more informed decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, seeking a professional appraisal is a reliable way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.